Strategy PP Variable xStock (STRCX) is 156.7× the size of Paypal (bStocks Tokenized Stock) (PYPLB) by market capitalisation. Their daily returns move barely together (correlation 0.00 across 57 shared trading days). STRCX has been the more volatile of the two, at 51% annualised against PYPLB's 38%.
$59.5700
$109.4400
PYPLBSTRCX
0.00over 57 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | PYPLB | STRCX |
|---|---|---|
| Max drawdown (400d) | -18.4% | -7.5% |
| Risk-adjusted return (90d) | -0.05 | 0.16 |
Relative strength over 90 days: STRCX outperformed PYPLB by 11.1% — measured on the PYPLB/STRCX ratio, so it holds regardless of market direction.